It was once ailed as one of the fastest growing companies in history yet I don't hear much about them anymore. I know that there were some problems, but many startups face these problems and come out on top...
I remember interviewing there during the peak hype (late 2015). Crazy environment.
According to Crunchbase they havent raised a round since then. I would guess the main reason we haven't heard much is:
* The ACA employer mandate has been at risk for the past couple of years, which was one of the main drivers of their business model
* They seem to have moved to a more standard SaaS model rather than giving the software away for free and making money on health insurance commissions.
* The CEO turmoil and regulatory issues caused them to keep a low profile.
Overall I think the Series C valuation is at serious risk, but the overall business would be profitable.
From a product perspective: We use Zenefits and it's pretty awesome.
From a startup perspective: I think they've given up the "growth at any cost" mentality which caused the drama few years back.
I can't find any numbers, but I suspect it's still around $60m - $100m in yearly-recurring revenue. It appears to still be a pretty solid business.
[1] https://en.wikipedia.org/wiki/Zenefits